S54s came with 3.15 diff ratios...S52 models had a 3.71. I think that might be it.

The '01 and '02 S54 Roadsters and Coupes came with a 3.15 LSD

The '98 - '00 S52 Roadsters and Coupes came with a 3.23 LSD

Other differences are gray faced gauges, curved face ///M badges on the exterior instead of flat, shadow chrome wheels instead of bright silver, I believe suspension may have been tweaked slightly as well.

The S54 cars (especially the Coupes) are quite rare, with only 690 Coupes originally delivered in the states. Lots of good literature over the past year or so in the many BMW publications speaking to the outlook on their collectibility and place in the classic BMW pecking order.

Other differences are gray faced gauges, curved face ///M badges on the exterior instead of flat, shadow chrome wheels instead of bright silver, I believe suspension may have been tweaked slightly as well.

The S54 cars (especially the Coupes) are quite rare, with only 690 Coupes originally delivered in the states. Lots of good literature over the past year or so in the many BMW publications speaking to the outlook on their collectibility and place in the classic BMW pecking order.

Late model '00 and all '01 and '02 cars had chrome slats in the kidneys to also set themselves apart. In addition they had the auto-dimming rearview mirror with chrome-trim that the early models lacked.

Engine aside, the S54 powered MZ3s have the major advantage of being equipped with the later and more advanced DSC traction control and TPS Tire Pressure Monitoring systems. Furthermore, the S54 cars supposedly have more welds in the rear floor-pan area but this hasn't been confirmed 100%.

There are other minor differences as well between the models/years.

S54 specific colors were: Steel Gray (although there are a handful of 2000 my Z3s floating around with this color), LSB, Phoenix, and Sapphire Black.

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